Manulife Financial Corp. (MFC) Now Covered by Dundee Securities
Investment analysts at Dundee Securities initiated coverage on shares of Manulife Financial Corp. (NYSE:MFC) in a research note issued to investors on Wednesday. The firm set a “buy” rating on the stock.
Other equities research analysts have also issued research reports about the stock. BMO Capital Markets set a $21.00 target price on shares of Manulife Financial Corp. and gave the company a “buy” rating in a research note on Friday, August 5th. CIBC lowered shares of Manulife Financial Corp. from a “sector outperform” rating to a “sector perform” rating in a research note on Thursday, August 4th. Macquarie lowered shares of Manulife Financial Corp. from an “outperform” rating to a “neutral” rating in a research note on Thursday, August 4th. Zacks Investment Research lowered shares of Manulife Financial Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, July 19th. Finally, Canaccord Genuity reissued a “hold” rating on shares of Manulife Financial Corp. in a research note on Monday, June 13th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $21.00.
Shares of Manulife Financial Corp. (NYSE:MFC) traded up 1.259% during mid-day trading on Wednesday, hitting $14.075. The stock had a trading volume of 435,019 shares. Manulife Financial Corp. has a 52 week low of $10.99 and a 52 week high of $17.17. The stock has a 50-day moving average price of $13.55 and a 200 day moving average price of $13.94. The stock has a market cap of $27.77 billion, a P/E ratio of 14.707 and a beta of 1.63.
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Manulife Financial Corp. (NYSE:MFC) last posted its quarterly earnings data on Thursday, August 4th. The company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.04. Manulife Financial Corp. had a net margin of 4.37% and a return on equity of 8.97%. During the same quarter in the previous year, the business posted $0.44 EPS. On average, equities analysts forecast that Manulife Financial Corp. will post $1.34 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, September 19th. Shareholders of record on Tuesday, August 16th were given a dividend of $0.141 per share. This represents a $0.56 dividend on an annualized basis and a yield of 4.06%. The ex-dividend date of this dividend was Friday, August 12th. Manulife Financial Corp.’s dividend payout ratio is 61.96%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Carnick & Kubik LLC purchased a new position in Manulife Financial Corp. during the first quarter worth $102,000. BlackRock Institutional Trust Company N.A. purchased a new position in Manulife Financial Corp. during the first quarter worth $107,000. Capital One National Association purchased a new position in Manulife Financial Corp. during the second quarter worth $140,000. Davis Rea LTD. purchased a new position in Manulife Financial Corp. during the second quarter worth $142,000. Finally, Zweig DiMenna Associates LLC purchased a new position in Manulife Financial Corp. during the second quarter worth $144,000. 49.50% of the stock is owned by hedge funds and other institutional investors.
About Manulife Financial Corp.
Manulife Financial Corporation (MFC) is a life insurance company. The Company is a holding company of The Manufacturers Life Insurance Company (MLI), a Canadian life insurance company, and John Hancock Reassurance Company Ltd. (JHRECO), a Bermuda reinsurance company. The Company’s segments, including Asia Division, Canadian Division, U.S.
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